Analytics and Data
The processes and technology of the analytics and data software industry play an instrumental role in enabling an organization’s business units and IT to optimally utilize data in both tactical and strategic ways. To accomplish this, organizations must provide technology that can access the data, generate and apply insights from analytics, communicate the results and support collaboration as needed.
Analytics utilizes mathematics to create measurements and metrics that enable data to be visualized in whatever form, in whatever tool or application is needed to provide insights and guide decision-making. In today’s data-driven world, organizations must use analytics to understand and plan the details of their operations across every department, and across the lines of business and IT. Organizations also use analytics to track costs, create staffing plans, assess employee and supplier performance, identify variances and plan corrective actions. Analytics also helps inform employees and facilitates communication throughout the organization to coordinate actions toward a common mission and specific objectives. Operating without analytics would be like flying a plane without an instrument panel.